NAFCU seeks insight on NCUA audit requirements
As the NCUA works to simplify supervisory committee audit requirements, NAFCU is requesting members’ feedback on how the proposed rule would affect credit unions. The association would also like to know if credit unions think other areas of review should be included in the new Appendix A to Part 715 of the NCUA’s regulations.
The NCUA advanced the proposed rulemaking, which is intended to simplify compliance requirements and provide credit unions with more flexibility under regulations regarding supervisory committees’ responsibilities in obtaining an annual audit of its credit union, during its February board meeting.
In a Regulatory Alert sent to members Monday, NAFCU notes that the proposal:
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